Is Whisky The New Gold?

Why Limited-Edition Whisky Is Suddenly The Biggest Status Symbol

Whether it's a $250 pour of The John Walker at a high-end bar or a $1,250 bottle of The Glenlivet Cellar Collection 1973 for your own shelves, whisky has attained the "portable luxury" status of jewelry or watches.

If flying wingsuit YouTube videos are any indication, humans crave the new and extreme. That quest for chart-topping experiences may go a long way toward explaining the current thirst among whisky drinkers for rare blends and limited-edition vintage cask releases.

Demand for limited releases has increased sharply over the past few years. Last month, Bowmore (a peat-smoked Islay whisky) released a 12-bottle limited-edition Bowmore 1957, a "truly exceptional cask" set aside in 1995. One of the 12 (each featuring a hand-blown bottle and platinum stopper) was put up for auction October 10th, with a reserve price of about $160,000. The Dalmore unveiled its 21-bottle Constellation Collection of individual vintages for $200,000. Macallan launched the third in its Masters of Photography collection, pairing original works from Annie Leibovitz with four special cask-strength whiskies for $2,750 a bottle. Four customized Macallan 1949 bottles from the brand's Fine and Rare Collection, each with a one-of-a-kind gallery-sized Leibovitz print, sell for $25,000 a bottle. Finally, The Glenrothes, a Speyside region distillery, discovered a few long-lost casks, unveiling a 1970 expression (limited to 179 bottles and dubbed "The Extraordinary Cask") at $5,000 per bottle.

"For many years, Glenrothes was known as a 'top dressing' single malt, used in blends because of its remarkable quality," David King, president of Anchor Distilling, which now owns and operates the distillery, said during a New York launch event for "The Extraordinary." "In 1994, we began setting aside 2% of our stock to make single malt under the Glenrothes name, so we really had very little from before that." An independent broker realized he had about 20 barrels of varying vintages tucked away, and offered them to the distillery. "We were delighted," says King. "Tonight, you are drinking a little bit of history," he said.

Why the fascination with these special releases? In the end, isn't it all just whisky?

It's Cheaper than a Lambo

"The guys in Vegas and New York get it," says King. "They want to do something fun and rare. It's a little slice of luxury, and luxury is more and more about experiences, rather than simply owning the shiniest toy." Whether it's a $250 pour of The John Walker at a high-end bar or a $1,250 bottle of The Glenlivet Cellar Collection 1973 for your own shelves, whisky has attained the "portable luxury" status of jewelry or watches.

"It's become a pretty popular thing to come in and say at least you've had a shot of The John Walker," according to Ray Nisi, owner of the Double Helix Wine & Whiskey Bar in Las Vegas.

It's Damn Good Juice

In many cases, the rare stuff actually is extraordinarily good (at least to hardcore whisky fans). Rachel Barrie, Bowmore's new master blender, waxes poetic about the 1957: "It's an otherworldly liqueur," she says. "There's no other aroma like it on earth. It's a moment in time, captured in a bottle." Likewise, Nisi says of The John Walker (which retails for about $4,500), a special expression of Johnnie Walker Blue Label, "It's hard to compare to anything else, because of the depth of its smoothness and smokiness, and the long, long finish." Nisi is quick to point out that age doesn't always equate to higher quality, and that you should drink what you like.

It's An Actual Rarity

Unlike an expensive unaged spirit (say, vodka or silver tequila), a single cask of vintage whisky can't be reproduced. Barrie — who is crafting innovative new expressions for Bowmore, Auchentoshan and Glen Garioch — notes: "Depending on the barley, and how we blend and age the whisky, there are something over 400 different aromatics that come through."